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Galaxy Research Director: The U.S. Senate control battle intensifies, and the CLARITY Act's legislative window narrows
Odaily Planet Daily News reports that Galaxy Research Director Alex Thorn posted on the X platform that the CLARITY Act is currently of higher urgency, partly because the competition for control of the U.S. Senate is unusually fierce. If the Democrats regain control of the Senate, former Senator Sherrod Brown may resume the chairmanship of the Senate Banking Committee; and if he fails to win the Ohio Senate race, but the Democrats still take control of the Senate, the committee may be led by Elizabeth Warren. Elizabeth Warren is not friendly to the cryptocurrency industry; she has previously urged the U.S. Treasury Department to implement strict supporting rules for the GENIUS Act and issued clear guidance to prohibit the use of foreign exchange stabilization funds or Federal Reserve emergency lending tools to backstop stablecoins and the crypto industry. These potential personnel changes could significantly impact the regulatory direction of the crypto industry, thereby increasing the practical urgency of advancing the CLARITY Act.